More Jobless Execs Willing to Head for Greener
Pastures

The latest survey from outplacement firm
Challenger, Gray & Christmas found that 16.5%
relocated for new jobs in the second quarter, up 25% from
a first-quarter relocation rate of 13.2% and the highest
since the fourth quarter of 2001 when 17% of job seekers
relocated.

More than half (51.2%) of the managers and
executives surveyed also changed industries in their new
positions, 18% more than in the first quarter (43.6%).
This is the highest level of industry switching since the
second quarter of 2002 when it reached 54.9%.

“The economy may be at its strongest since 2000,
but the job market has been much slower to recover. While
evidence shows that employers are finally starting to add
some workers, we have not seen a significant drop in job
search times, which strongly suggests that employers are
being very selective,” observed John Challenger, chief
executive officer.

Since the beginning of the recession in the second
quarter of 2001, the percentage of managers and
executives relocating has averaged 14.9%. The percentage
of job seekers changing industries has averaged
47.6%.